OVAL PROJECTS ENGINEERING LIMITED

Key Items Approved by the Board

1. Unaudited Financial Results for H1 FY27:

The Board approved the unaudited standalone and consolidated financial results for the half year ended September 30, 2026. The results were first reviewed by the Audit Committee and subsequently approved and taken on record by the Board in the same meeting.

2. Fundraising Plan Revision:

The Board considered a proposal for raising funds through the issuance of warrants convertible into equity shares on a preferential basis. Management recommended expanding the scope of this initiative from an exclusive promoter issue to a comprehensive plan including participation from both promoter and non-promoter investor categories. Consequently, the Board decided to consider the finalized, broader fund-raising plan at an upcoming meeting. The date for an Extra-Ordinary General Meeting (EOGM) to seek shareholder approval will be aligned to follow the approval of this comprehensive structure.

3. Re-Appointment of Secretarial Auditor:

The Board re-appointed M/s. KKS & Associates, Practicing Company Secretary, as the Secretarial Auditor of the company for the financial year 2026-27.

4. Incorporation of a Joint Venture Company:

The Board approved the incorporation of a joint venture company with EIKO SCIENTIFIC SOLUTIONS LLP, to be named Oval Eiko Resources Private Limited.

Details of the Joint Venture: Oval Eiko Resources Private Limited

  • Name of Entity: Oval Eiko Resources Private Limited (Proposed name, approved by MCA on October 23, 2026).
  • Country of Incorporation: India.
  • Holding Structure: The JV is a 50-50 partnership between Oval Projects Engineering Limited and Eiko Scientific Solutions LLP. Eiko Scientific Solutions LLP is a wholly-owned subsidiary of Oval Projects Engineering Limited.
  • Industry: Renewable Energy, specifically Compressed Bio Gas (CBG) Production and Distribution.
  • Line of Business: The JV will be engaged in Renewable Energy, Compressed Bio Gas, Condensation Stabilization Units, Industrial Fuel and Chemical Units, Essential Oil Units, and Engineered Wood Units.
  • Governmental Approvals: Not applicable for the incorporation itself.
  • Nature of Consideration: Cash.
  • Cost of Subscription: The initial proposed capital is ₹2,50,000. Oval Projects Engineering Limited will subscribe to 50% of the total share capital, amounting to 25,000 equity shares of ₹10 each for a total consideration of ₹2,50,000.
  • Shareholding: Oval Projects Engineering Limited will hold a 50% stake in the JV, represented by 25,000 equity shares.